Small Business Coaching - 5 Critical Success Factors
The market place is, nowadays, full of companies offering small business coaching services to entrepreneurs like you
. This is good for you as it means there is plenty to choose from if you are considering growing your business. It is critical to your success that the following five considerations are addressed whenever contemplating engaging a small business coaching advisorHave Objectives In Mind
The expectation that any coach or advisor will identify and develop your business objectives for you is misguided. Please avoid this situation. To save yourself money and time, brainstorm and document your vision and objectives for the business for the next 12 months at least. Then use the advisors experience as input to further sculpt your dream business.
Be Prepared To Allocate Time to Planned Activities
Will you allocate the time necessary to succeed?. One of the main reasons small business coaching fails is if you do not allow yourself the time necessary to complete agreed tasks (say marketing). Say you have selected a new marketing strategy in your small business coaching program such as networking. If you have not set aside time to find a networking venue or have trouble turning up to the meetings, then your results will reflect this.
Expect at least one to three hours per day to be put in (extra) if you want to see your efforts bear fruit, eventually you will be working less and earning more. That's the goal right?
DIY Rather Than Done For You
A small business coaching program will bring the best in you - your natural creativity and flair. The coach is not there to do everything for you. Business owners sometimes think the coach will take over all tasks. This is not going to happen. If you hire a consultant they will charge a high fee and deliver "done for you" services - they retain the knowledge.
Coaches guide and support you in learning how to do the tasks for yourself. You get to keep the knowledge.
Be Realistic
Excellent log term results are possible with a well planned and adhered to small business coaching endeavor. After several months you will see the benefits. If your coach is honest with you, they will tell you up front that increases in revenue will not occur over night. Some coaches and advisors (the minority) market the promise of being able to quickly double your net profit. Do not be mislead here as long term business growth is not something that happens in a week.
Select a Coach That Guarantees Results
To lower your risk and protect your investment, ensure the coach you select has a performance guarantee. The first month is the time of greatest risk when you have engaged a consultant. You want a non commit period to gauge progress and whether you can work with your coach. A "get out clause" should exist in any agreement you sign lest you find yourself locked in for 12 months without any means of escape.
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